World Economy MCQs for Patwari
Practice World Economy under Economy for Patwari with 20 free MCQs in Hindi and English.
Patwari — World Economy
20 Questions • Instant results & explanations • Hindi & English
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Question 1 of 20
Which of the following interventions by a national government would be completely exempt from reduction commitments under the WTO's Agreement on Agriculture?
Question 2 of 20
Consider the following statements: 1. The Neoclassical Synthesis completely rejects the idea of long-term classical market equilibrium. 2. The Phillips Curve establishes that reducing inflation always leads to lower unemployment in the short run. 3. Prolonged recessions can turn temporary unemployment into permanent skill loss, a phenomenon called hysteresis. Which of the statements given above is/are correct?
Question 3 of 20
Bottleneck inflation is academically classified as a highly specialized, localized subset of which broader, foundational category of inflation?
Question 4 of 20
Assertion (A): The IMF's capacity development initiatives are strictly limited to providing financial loans to central banks. Reason (R): Capacity development involves giving technical assistance and training to finance ministries and tax authorities.
Question 5 of 20
In macroeconomic analysis, why does an increase in Nominal GDP not definitively prove that physical output or economic capacity has actually expanded?
Question 6 of 20
If a heavily indebted developing country in the 1990s was instructed to adhere to the 'Washington Consensus', which of the following actions would it be required to implement?
Question 7 of 20
What is the core proposition of the historical Phillips Curve?
Question 8 of 20
When a central bank aggressively expands the national money supply while the economy is already functioning well, it frequently results in the classic scenario of "too much money chasing too few goods". This specific policy misstep directly triggers:
Question 9 of 20
What fundamental geopolitical shift is intended by the IMF's proposed Quota Realignment?
Question 10 of 20
Consider the following statements regarding the International Development Association (IDA): 1. It focuses exclusively on the private sector by providing equity and asset management services. 2. It provides access to zero-to-low interest loans and outright grants for basic programs like health and education. Which of the statements given above is/are correct?
Question 11 of 20
Global economic governance fundamentally relies on deep institutional interlinkages. The IMF, World Bank, and WTO formally collaborate to discuss macroeconomic stability by convening joint platforms such as:
Question 12 of 20
According to the AD-AS (Aggregate Demand-Aggregate Supply) framework, what happens when an economy experiences an 'Inflationary Gap'?
Question 13 of 20
Which specific issue poses a challenge to achieving the 4% retail headline inflation target by FY26, despite a softening trend?
Question 14 of 20
According to modern economic analysis of the Washington Consensus, which factors are considered paramount for the successful implementation of structural reforms?
Question 15 of 20
In standard business cycle analysis, what specific metric officially confirms the transition from a standard economic contraction into a formal 'Recession'?
Question 16 of 20
How does a reduction in the Cash Reserve Ratio (CRR) theoretically impact the commercial banking sector and the broader economy?
Question 17 of 20
Match List-I with List-II and select the correct answer using the codes given below: List-I (Determinant/Impact) A. Contractionary Monetary Policy B. Imported Inflation C. Menu Costs List-II (Economic Phenomenon) 1. Depreciating domestic currency making crude oil expensive 2. Tangible expense of updating price lists in hyperinflation 3. Increasing cost of capital to choke private borrowing Codes: A B C
Question 18 of 20
Which of the following domestic support measures is considered to directly distort agricultural production and trade?
Question 19 of 20
Which institution within the World Bank Group is widely referred to as the 'soft loan window'?
Question 20 of 20